Corporate Governance in the Common-Law World: The Political Foundations of Shareholder Power

The corporate governance systems of Australia, Canada, the United Kingdom, and the United States are often characterized as a single “Anglo-American” system prioritizing shareholders' interests over those of other corporate stakeholders. Such generalizations, however, obscure substantial differences across the common-law world. Contrary to popular belief, shareholders in the United Kingdom and jurisdictions following its lead are far more powerful and central to the aims of the corporation ...